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Agreed wallact: It must be profit taking as there is nothing that would suggest that the SP would need to tank - quite to the contrary: All systems go for a mighty rise once the Heron (or any subsequent) drill is successful - and the COS couldn't be any better.
As AIM is the betting platform "par excellence" I would expect the betters to join the party very soon!
I think IMHO its just profit taking? My last buy-in was 2.9p and have taken profit several times over the last couple of years. Now holding for results. GLA
To be honest I do not smell a placing as I believe the board (who are heavily incentivised with shares) are making confident noises so why give away shares at a lower price? On the other hand I know other long term holders who feel they have seen this pattern before when placings followed. I don't think it will happen this time as the COS is very good and a find will transform fortunes. We will know a lot more in 4 weeks.
Yes Manro, I fully agree with you. That is why I am here too. I genuinely believe the transformation of Matd, we just need to break that first step then all will be good once we can be self funding, or if we sell a proven oil field or whatever. It is Mongolia, and they are serious about all this.
Absolutely, Ojay Mike31 and others. I have closely watched many other AIM listed O&G companies and no one, and I can repeat it - no one, has such great and really transformational potential as our Matad. I don't want talk or analyse other companies here. But can tell in short that two of them which seams to be very promising ones operating in former USSR (one rich of oil country as Kazakhstan and other in Georgia where was GAS found) have fallen today drastically from 13.18p to 9.50p (-31%) and from 17.00p to 10.65p (-37%). Isn't this obvious stupidity to seat now on these shares and not to buy Matad? Of course it is the same stupidity or even madness, as selling Matad now.
Manro - I believe that the issues you mention are for real:
1. People's stupidity
2. MM's tricks
3. Any sharp movement (up or down) on AIM has a short life.
Therefore, the questions a PI should ask him/herself are:
Am I one of the stupid folks? Do I fall for the MM's tricks? Do SP movements have any effect on my investment strategy?
If your (honest to goodness) response is 3x NO - then your on the right path.
I hope you are right Manro. Never felt close to the news we all want
Agree with you Trek and all others who think today's SP fall is connected with people's stupidity or MM's tricks. I would add also that group of traders (or even one of them with substantial holding) can move SP of any AIM listed company. Therefore, such SP fall has short living and nothing can stop it from quick like a rocket take off very soon.
Trek, they started releasing the delayed trades. I believe we will see more today , USA it's open for trade now and more will come in.
There really is no volume here to concern anyone. As for this placing bunkum just read the RNS’s. This is just slippery AIM never doing what people expect. We are listed on SETSqx so MMs often manually set prices to drive liquidity for relatively illiquid stocks, they are making a market. Trek do nothing.
Yes it can. I had a re-entry of 7.75 but still not back in yet. Will watch over the next few hours. Cheers.
Why would the company issue a placing as the drill is turning? Makes zero sense, especially as they have repeatedly stated they are fully funded for the 2019 drills. Thanks for playing all the same though!
Haha 6 post Tom can smell a placing when we have 4 fully funded drills yet to be tested...come on "Tom" please try harder.
No Tom, I don't. DO you? If so great sense there.
Good progress on rigs, spud and drilling. Shares down. Anyone smell a placing?
Well known madness "sell on good news and buy on rumors" in action". But it all can change pretty quickly in any day, even today.
I agree with that - Certainly wouldn't want to be out from mid-August on. Would also expect a rise as we move into the month. Who knows if it will rocket like last time up to 30p however? Can't tell.
This will be up and down alot over the coming weeks, but the more we get into AUG i expect solid rises with anticipation of "Company Transforming news" as per the CEO comments. Few multi bags to be made here on solid news, steady rise to be seen over a 30 day average. GLA exciting times ahead.